Jarvis unveils new chief executive

TROUBLED rail engineer Jarvis presented a new chief executive to investors today just as chairman Steve Norris was on the end of a sustained and hostile attack at its annual meeting.

The new man is Alan Lovell, 50, who joins from Dunlop Slazenger, the sports equipment group, which has had its own troubles leading to being sold to its lending banks.

Prior to that, he was at rail engineer Costain, another embattled firm. When Lovell left there in 1997 he was replaced by John Armitt, current chief executive of Network Rail, Jarvis' single biggest employer.

Norris said of Lovell's appointment, which comes a fortnight after the ousting of Kevin Hyde: 'He brings Jarvis a wealth of experience and a proven track record.'

A former England real tennis international and racquets blue from Oxford, Lovell is well connected.

Not only is he known to the City's banking community after debt reduction programmes at Costain and Dunlop Slazenger, he is also the son-in-law of Lord Weatherill, the former Tory speaker of the House of Commons.

Norris, a former Tory Transport Minister, came under heavy attack at the company's agm in which he was accused by private investors of presiding over 'a multi-faceted disaster'.

Six former directors shared pay-offs in the past year totalling up to £2m and bonuses of £800,000 relating to the period covered by the fatal Potters Bar derailment for which Jarvis has subsequently taken joint responsibility.